Mastercard has set an ambitious goal to achieve 100% e-commerce tokenisation in Europe by 2030. This initiative aims to phase out manual card entry, making online shopping safer and more accessible for consumers and merchants alike.

Tokenisation, introduced by Visa and Mastercard in 2014, replaces the traditional 16-19 digit payment card number with a secure token. This process not only reduces fraud but also improves transaction approval rates. Recently, Visa announced it had issued its 10 billionth token, while Mastercard reported that its tokenisation service currently secures 25% of all global e-commerce transactions, with adoption increasing by 50% year-over-year.

Despite these advancements, online payment fraud remains a significant concern, with losses expected to surpass $91 billion by 2028. In response, Mastercard is intensifying its security efforts.

In addition to tokenisation, Mastercard is facilitating the integration of Click to Pay on merchant websites, which eliminates the need for manual card entry. The company is also promoting the use of passkeys, leveraging mobile device-based biometric authentication to replace traditional passwords and one-time codes.

Mastercard's decision to prioritize Europe for achieving 100% tokenisation reflects the continent's status as a leader in payment innovation.

Valerie Nowak, Executive Vice President of Product and Innovation at Mastercard Europe, stated, "In Europe, we have seen tokenisation gaining momentum across the ecosystem. The convenience and reduced rates of fraud speak for themselves. We are confident that reaching this vision by 2030 will be a win-win-win for shoppers, retailers, and card issuers alike."

This commitment underscores Mastercard's dedication to enhancing security and convenience in the digital payment space, paving the way for a safer and more efficient online shopping experience.